How do wealthy investors build trust before doing a deal?
Short answer: Richard says familiar faces emerge as people return to the club over time. That makes it easier to do business and help one another.
At a Family Office Club event, Richard C. Wilson shares his views on building relationships and getting deals done with investors.
Wilson on adding value before a pitch
Richard C. Wilson says to think about how you can add value to someone else before trying to pitch or sell to them. He says getting to know people and building a relationship can matter even when they are looking to buy something.
Wilson on context and trust
Richard C. Wilson says investing often involves conviction, trust, security, comfort and understanding how a deal works. He says those things require a relationship and trust, which he connects to community.
Wilson on a brief conversation with an investor after a talk
Richard C. Wilson advises having a one liner about what you do and being succinct when speaking with an investor after a talk. He says people can follow up later and put a face with a name.
Wilson on considering a different structure
Richard C. Wilson says many of his successful deals started with a no, then worked after he suggested a different structure. He says creative deal structuring is often overlooked by new investors who are ultra wealthy.
"Investing is not about who's promising the biggest IRR. It's many times around conviction, trust, security, comfortability, understanding how something works."
From Richard's exclusive Billionaires.com interviews
Lessons from Richard C. Wilson's one-on-one interviews, as published on each interview page.
- Fran Tarkenton: Get in the game. As a third string college quarterback, he put himself into a game and led a scoring drive. You cannot make things better from the sidelines, he says.
- Michael Lee-Chin: Find the person who is responsible. When a problem comes up, he asks who the agent was. He wants a specific person to call, not a department.
- Tony Robbins: Think like an owner. His biggest turning point was moving from operator to owner. An operator tries to supervise everything and cannot scale.
See the data
Frequently asked questions
How do wealthy investors build trust before doing a deal?
Richard says familiar faces emerge as people return to the club over time. That makes it easier to do business and help one another.
What should you say to an investor who just came off stage?
Richard C. Wilson advises being concise and says a 20 minute conversation about your business with an investor who just came off stage probably isn't the right time or place.
How might a wealthy person describe their business?
Richard C. Wilson says someone might mention owning a couple of car washes while actually having 140 or having sold 50.
Sources
Quotes are copied from the video captions and checked against the transcript. Timestamps link to the moment in the video. General information only, not legal, tax or investment advice.